On Friday of last week the USDJPY showed weakened buying momentum due to a reaction to the previous day's dollar strength and caution ahead of U.S.-China trade negotiations starting on Saturday. After reaching a high of 146.18 yen around GMT 00:00, the price trended downward, falling below 145 yen around GMT 14:00 to hit a low of 144.82 yen.

It subsequently recovered somewhat, and trading for the day closed at 145.35 yen.

Today the USDJPY gapped up at the open to 146.22 yen. Shortly after GMT 01:00, it reached a high of 146.28 yen before falling back, but stopped declining around the 145.70 yen level. As of GMT 04:00, it is moving without clear direction.

Looking at the 1-hour chart of the USDJPY (as of GMT 04:00 on May 12), it is moving around the +1 standard deviation level, and the market is focusing on whether it will clearly break above 146.28 yen and pursue higher values. As long as it doesn't fall below the middle line, it seems appropriate to maintain a buying perspective.

(20-period Bollinger Band, showing ±1 and ±2 standard deviations)

The main economic indicators for today are as follows:

• GMT 18:00 U.S. April Monthly Budget Statement